To keep your business deposits safe, you can use the Certificate of Deposit Account Registry Service® or CDARS® to access multi-million dollar FDIC insurance on CD Deposits.1 It's a simple way to protect your hard-earned funds, while enjoying the convenience of working directly with just one bank.
- Access multi-million-dollar FDIC insurance
- Earn one CD-level rate per maturity
- One regular statement shows details of all your CD investments placed through CDARS®
- Variety of maturities (from three to 60 months)
- No hidden fees of any kind
- Funds can be used for local lending2
- $1,000 opening balance
- Interest is paid monthly, quarterly, annually or at maturity (at least once a year) by direct deposit or check
1Limits apply. Funds may be submitted for placement only after a depositor enters into a CDARS Deposit Placement Agreement with us. The agreement contains important information and conditions regarding the placement of funds by us. CDARS and Certificate of Deposit Account Registry Service are registered service marks of Promontory Interfinancial Network, LLC.
2 When deposited funds are exchanged on a dollar-for-dollar basis with other banks in the CDARS Network, we can use the full amount of a deposit placed through CDARS for local lending, satisfying some depositorsâ€™ local investment goals or mandates. Alternatively, with a depositorâ€™s consent, our bank may choose to receive fee income instead of deposits from other banks. Under these circumstances, deposited funds would not be available for local lending.Contact us